Printer Friendly

NEWMONT GOLD'S LARGEST GOLD MINE PRODUCES RECORD ONE MILLION OUNCES IN 1991

 NEWMONT GOLD'S LARGEST GOLD MINE
 PRODUCES RECORD ONE MILLION OUNCES IN 1991
 CARLIN, Nev., Dec. 26 /PRNewswire/ -- Gold Quarry, North America's largest producing gold mine, has produced a record one million ounces of the precious metal in a single year. The million- ounce record was set on Dec. 22 and annual production will be further increased by expected production of more than 2,800 ounces a day through the end of the year.
 Located in northeastern Nevada, Gold Quarry is owned and operated by Newmont Gold Co. (NYSE: NGC) of Denver. Newmont Gold is North America's largest gold producer and is expected to produce some 1.55 million ounces of gold from its mines on the Carlin Trend in Nevada this year. The Gold Quarry mine produced 939,800 ounces in 1990 and is scheduled to keep producing near the one million ounce level in 1992.
 To reach the one million ounce production level at Gold Quarry, Newmont Gold mined 80 million tons of ore at the mine, treating 9.1 million tons at two nearby mills. These milling operations produced 756,000 ounces of gold. Another 244,000 ounces were produced by the leaching of 15.6 million tons of ore placed on leach pads during the year.
 "To keep operations the size of Gold Quarry producing around the clock seven days a week is no mean feat," said T. Peter Philip, president of Newmont Gold, in making the announcement. "Our employees should be proud of their accomplishment and we congratulate them."
 The Gold Quarry ore deposit was commissioned by Newmont Gold in 1985, and it produced 106,500 ounces of gold that year. It is the largest of the company's 16 gold deposits and as of the end of 1990 it contained 8.9 million ounces of proven and probable reserves. The company's total announced gold reserves at year end 1990 were 18.9 million ounces.
 Newmont Gold is a 90.1-percent-owned subsidiary of Newmont Mining Corp. (NYSE: NEM). Shares of both companies are traded on the New York Stock Exchange.
 -0- 12/26/91
 /CONTACT: James F. Hill of Newmont Gold, 303-837-5977/
 (NGC NEM) CO: Newmont Gold Co. ST: Colorado IN: MNG SU:


BB -- DV002 -- 5300 12/26/91 12:52 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 26, 1991
Words:375
Previous Article:NORTHWEST AIRLINES SELECTS DASH 8 SERIES 100S
Next Article:SOCIETY/AMERITRUST SPECIAL SHAREHOLDER MEETINGS SCHEDULED; BOARD OF DIRECTORS IDENTIFIED
Topics:


Related Articles
NEWMONT MINING AND NEWMONT GOLD ANNOUNCE COST-SAVINGS MOVES
NERCO ADDRESSES WESTERN GOLD CONFERENCE
NEWMONT MINING SIGNS FINAL ACCORD ON GOLD JOINT VENTURE WITH REPUBLIC OF UZBEKISTAN
NEWMONT MINING CORP. BREAKS GROUND ON 5.0 MILLION-OUNCE GOLD PROJECT IN UZBEKISTAN
ZARAFSHAN-NEWMONT JOINT VENTURE RECEIVES $105 MILLION IN EBRD-LED FINANCING FOR ITS GOLD PROJECT IN UZBEKISTAN
COMBINED NEWMONT GOLD-NEWMONT MINING RESERVES REACH 26 MILLION OUNCES
NEWMONT, SUMITOMO SIGN BATU HIJAU AGREEMENT
NEWMONT EARNED 20 CENTS PER SHARE IN SECOND QUARTER; GOLD PRODUCTION ROSE 30 PERCENT TO 549,800 EQUITY OUNCES
Newmont Posts First Million Ounce Quarter
An Outstanding Year: EPS Up 70% Before Merger Costs

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters